IAASB Chair Tom Seidenstein has been included in the Accounting Today listing of Top 100 Most Influential People in Accounting.
Accounting Today: “The future of accounting will definitely be more global, and as head of the International Auditing and Assurance Standards Board, few people have more influence over the future of audit and attest worldwide than Seidenstein, who’s also working to make his standard-setting more agile, more collaborative, and more relevant, while also pioneering areas involving sustainability and technology.”
The International Ethics Standards Board for Accountants (IESBA) took a major leap forward at its December 2024 meeting, approving two sets of standards that will underpin public trust in sustainability reporting and assurance:
The International Ethics Standards for Sustainability Assurance (IESSA) and related revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code), setting a global benchmark for ethical behavior and independence in sustainability reporting and assurance.
Revisions to the Code on the Using the Work of an External Expert, establishing an ethical framework for evaluating the competence, capabilities and objectivity of external experts used by professional accountants and sustainability assurance practitioners.
The Board also approved a project plan to develop a new standard on accounting firm culture and governance, focusing, among other matters, on ethical leadership and accountability within accounting firms.
The Board marked the departure of two esteemed members,Laurie Endsley, IESBA Vice Chair, and Andy Mintzer. Their dedicated service and contributions have helped significantly shape the IESBA’s work.
Recordings of this week’s meetings will soon be available on the IESBA YouTube channel. Stay tuned for updates as IESBA prepares for the global release of the new sustainability-related standards in January 2025.
The International Ethics Standards Board for Accountants (IESBA) is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.
The IAASB extends its congratulations to the IESBA on the approval of its ethics and independence standards for sustainability reporting and assurance.
This milestone marks a significant step forward in ensuring the integrity and trustworthiness of sustainability information—a crucial foundation for decision-making by investors, policymakers, and stakeholders worldwide. The new standards demonstrate the IESBA’s commitment to addressing the evolving needs of the global economy and society, setting the bar for ethical conduct and independence in this crucial area.
The IAASB is proud to have collaborated with IESBA to ensure interoperability with the IAASB’s recently published International Standard on Sustainability Assurance 5000 to ensure interoperability. Working together, these standards advance the public interest and drives consistency and credibility in sustainability reporting and assurance practices globally. Together, we are contributing to a stronger, more transparent future.
